Weekly Market Update: November 4, 2024
11/04/24
Market Volatility Increases as Election Day Approaches
US equity markets ended the week lower for the second consecutive week as investors were hit with a flurry of catalysts including mixed earnings reports from mega cap tech stocks, third quarter GDP, PCE inflation, and key employment data. Markets have been rife with uncertainty of late, with a wide range of asset classes experiencing heightened volatility in the lead up to the election. The VIX, a measure of equity market volatility, ended the week at 23 – almost double its level at the start of the year. The MOVE Index, a measure of interest rate volatility, sits at its highest levels since the regional banking crisis in early 2023.
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